I just don't understand how a $480,000 9-unit warehouse could generate $100,000 a year. That's an easy 20% return per year. That just doesn't seem right. Why would anyone ever sell this warehouse if it had such potential? Why would anyone ever invest in anything else besides warehouses?
Well that assumes that all the units will always be rented which won't always happen. And also I dont think that includes maintenance and future issues of the building
Exactly my point. So I think the figures are just a bit disingenuous, right? They're planning their life around these estimates which are as optimistic as you can get. Seems ripe for failure.
The $100K is after the improvements and deferred maintenance. Those things combined with being at the right place at the right time when the seller was wanting to move on and it's a story that's not uncommon. You really need to go on the current Yield to see if what they are doing is worth it. Whether it's worth selling or keeping. Going on the current value estimation of $850,000 @ $100,000PA the gross Yield is 11.8%. Fairly typical of a commercial property. Good solid keeper but not spectacular.
Exactly what I was thinking. $480k property appreciates 77% after one year, and generates 100k in annual income. They really hit the jackpot with this warehouse.
Jeiby Vizcaino And now they’re a slave to people not paying rent on time! Look up rental nightmares and how people destroy the place before getting evicted.
@@jillianmcallister1012 wow just because you've read nightmare stories it doesn't meant it happens to everyone. If you have a proper vetting process you can reduce your risk. I know investors that own properties in the hood in Yonkers NYC and they have 100% occupancy rate with section 8 and regular, and he deals with minimal issues still worth it. He dont do it! Stay away lol More property for me.
Jeiby Vizcaino I have rented out property and I have vetted out renters and I still got fucked over. “It won’t happen to me!!!” Is very immature thinking. Being a landlord is great until it’s bad
Congratulations guys. I know you worked really hard to get where you are. Everything from here on out is in your control. Continue to be productive, generous, and helpful as you have always been.
i don't think he meant it in a bad way. we love the video's, and miss them. they should be doing what they love, but we hope to just get a glimpse of that.
Yaaaay! CONGRATULATIONS! I'm so very happy for you both on achieving F.I.R.E.! Looking forward to more great videos on the subject in helping others achieve this same and very possible goal.
So happy for you guys. Believe it or not you are my inspiration. I’m sure your days are not always perfect and still you are always smiling. Well done an if you ever come to Seville, here you have a fan glad to show you the town!
Congratulations. That is amazing news. It's not exactly Costa Rica, but wow, that is an amazing amount of independence from just one property. And on a completely random other note - Mike, I can hardly see any sign of your injury any more. Which is also great!
Congratulations guys! You are a huge inspiration even to older folks like me. A big part of my early retirement 2 1/2 years ago was because of your advice and encouragement. You have worked very hard for this and deserve it.
This is amazing news! You two are an inspiration to the rest of us that it can be done! All of your hard work and perseverance has paid off! Congratulations to the both of you.
You say the warehouse could generate $100k p/yr.. that's speculation. And then you go on to say it's doing $3k a month.. that's the reality! If you worked in a bar, or a supermarket you could make more than that. How much is your rent at home?
Wow Congratulations! I remember watching your videos 3 years ago (when I was 17) and after shit hit the fan w life, I'm highly contemplating dropping out of college changing my goals aim to be financially independent by 26/27. Still got a lot to flesh out but this is inspiring! Thank you
Running through some old comments on this video, and was wondering how this worked out for you? I also started watching Mike and Lauren around 17 years old. Now, I'm 25, married, and we're working towards our FIRE goal. Projection says 29-30 should be our first million in net worth, and 34-35 should be financially independent. Hoping your journey has been just as productive!
Very nice! Hope u guys keep the updates still comming. Showing us the issues wen u are on "retirement" that happen and what kind off potholes u find down the road! :3
I was literally just talking about you guys today. I had shown my uncle your initial warehouse video on what great idea it was. Congrats on your accomplishment. I know you guys sacrificed a lot along the way. Good luck in your future endeavors.
Been missing your videos. Great to see you back! Can't wait till the full explanation. What are you gonna do now that you're "retired" I imagine you'll keep working hard.
I haven't watched you guys in a really long time, not since you went out of the country to have the baby and get the baby dual citizenship. I am really glad to randomly stumble upon your video and find that you guys have reached and really surpassed your goal. Congratulations! I'm very excited for you both.
So proud of you guys........you are an inspiration to others who are yet to begin their financial journey....(me included..)....waiting for more videos.....don't stop....
I'm so happy for you guys!!! This channel has inspired me to take control of my financial Independence.. I can't wait to see your travel and DIY videos
You guys are an inspiration. My wife and I are starting down a similar road, realizing that we need to make our moves while our income is good. I've thought about your videos a lot as we've been working on that process. We sold our too-big home of 11 years and moved into a smaller, cheaper, trouble-free apartment three days ago. We're socking away about a third of our income and I've started looking at commercial real estate.
Incredible! Well done. Would love some videos on what you think about warehouses as an investment potential for other people. The pros/cons of it vs. passive index investing. The pros/cons of it vs. residential rental properties. Pitfalls to watch out for. Lessons learned. Etc. :)
I love it how the haters on the comments are so critical of others that are able to actually achieve something. I commend you guys on your achievement.
I just don't understand how a $480,000 9-unit warehouse could generate $100,000 a year. That's an easy 20% return per year. That just doesn't seem right. Why would anyone ever sell this warehouse if it had such potential? Why would anyone ever invest in anything else besides warehouses?
Well that assumes that all the units will always be rented which won't always happen. And also I dont think that includes maintenance and future issues of the building
Exactly my point. So I think the figures are just a bit disingenuous, right? They're planning their life around these estimates which are as optimistic as you can get. Seems ripe for failure.
The $100K is after the improvements and deferred maintenance. Those things combined with being at the right place at the right time when the seller was wanting to move on and it's a story that's not uncommon. You really need to go on the current Yield to see if what they are doing is worth it. Whether it's worth selling or keeping. Going on the current value estimation of $850,000 @ $100,000PA the gross Yield is 11.8%. Fairly typical of a commercial property. Good solid keeper but not spectacular.
Exactly what I was thinking. $480k property appreciates 77% after one year, and generates 100k in annual income. They really hit the jackpot with this warehouse.
yeah, so it would be worth 30 mil? Not happening
Your job is a landlord now
Property management does the work
Even of they choose to be landlords. I rather do that than be a slave to some random company!
Jeiby Vizcaino And now they’re a slave to people not paying rent on time! Look up rental nightmares and how people destroy the place before getting evicted.
@@jillianmcallister1012 wow just because you've read nightmare stories it doesn't meant it happens to everyone. If you have a proper vetting process you can reduce your risk. I know investors that own properties in the hood in Yonkers NYC and they have 100% occupancy rate with section 8 and regular, and he deals with minimal issues still worth it.
He dont do it! Stay away lol
More property for me.
Jeiby Vizcaino I have rented out property and I have vetted out renters and I still got fucked over. “It won’t happen to me!!!” Is very immature thinking. Being a landlord is great until it’s bad
congrats guys, pretty sure i've been following you since close to the beginning. very inspiring to see how far you've come
Indeed you have. I actually remember seeing you subscribe. Our sub count must have been low enough that I actually checked it every day ;)
I completely agree with this statement.
Congratulations! I always had complete faith that you would be successful and also happy. Nice going.
Congratulations guys. I know you worked really hard to get where you are. Everything from here on out is in your control. Continue to be productive, generous, and helpful as you have always been.
📣Congratulations! Your documented journey and accomplishments will continue to inspire many people.
Congrats you two! Been following you since just about the beginning and super happy for you both!
Such a motivation and one of the channels that pushed me to start mine and my wife’s goal to become FI! Congrats guys!!! Well deserved!
This is awesome!! Congrats and thank you for taking us with you on this journey, its lovely to see it has all paid off and worked out for you guys!
So happy for you guys, congrats! Keep sharing you journey
I hope that now the work is done you can start making some more regular videos like you did before you bought the building.
ditto
I hope you haven't been severely inconvenienced, dude. Is there somewhere I can send you flowers, for all your pain?
bro... delete this comment
i don't think he meant it in a bad way. we love the video's, and miss them. they should be doing what they love, but we hope to just get a glimpse of that.
G.Work.Specials I miss the videos too! Lol
Congrats guys. I can only dream of being as committed as you are. You deserve it!
I'm so happy for you. Lots of us are better because of your creativity, work and sharing. Thanks for sharing your tips and your lives with us!
You’re too kind, thank you!
Congrats!
Thanks Ling! I appreciate the love!
Congratulations! Saw your 2015 video, and now here you are :)
Great job guys! I knew you could do it. Can't wait to see what's next!
500k is way too low for you to retire with 2 kids and travel, especially in USA. Maybe it would be enough in Indonesia or Thailand but not here.
Congrats guys - enjoyed watching the journey and looking forward to seeing what is next
Wow!!! Congrats!! Been watching for like two or so years! Ya made it!
Yaaaay! CONGRATULATIONS! I'm so very happy for you both on achieving F.I.R.E.!
Looking forward to more great videos on the subject in helping others achieve this same and very possible goal.
Congratulations! So refreshing to see people working hard for valuable, meaningful things in their lives.
Congrats guys. Awesome work. Enjoy the kids and retirement.
Congratulations!!! Had a late start but ultimately will be there one day. Thanks for the great videos!
Congratulations! Live well and enjoy your family!
Congrats guys! Thats an awesome milestone, keep it up!
so happy for you guys! All the best
So happy for you guys. Believe it or not you are my inspiration. I’m sure your days are not always perfect and still you are always smiling. Well done an if you ever come to Seville, here you have a fan glad to show you the town!
Congrats guys! Looking forward to hearing more about what you're up to :)
Congratulations!! I can hardly wait to see the break down video of how you made all of this happen! Good Job!
Great work guys! Congratulations!!!
excellent information.. and good for you!!!! Congrats - inspiring for everyone to watch and take notes on how they can do this too.
Congratulations. That is amazing news. It's not exactly Costa Rica, but wow, that is an amazing amount of independence from just one property.
And on a completely random other note - Mike, I can hardly see any sign of your injury any more. Which is also great!
Wordsnwood (Art Mulder) Cash flow is king!
Thanks! Yea, slowly but surely it's fading.
They can afford to live in Costa Rica.
Wow!!! Way to go, you two! This is incredibly inspirational and motivational. Thank you!
That's so inspiring!!! I've been following y'all for awhile now and it's really cool to see how far y'all have come :)
Wow!!!!! Your hard work and smart thinking paid off! Congratulations!!
Congrats Guys...very happy for you.
Congratulations!! You are a trully inspiration for how I want to financially be at your age. Good luck and enjoy this stage of your life
Congratulations guys! You are a huge inspiration even to older folks like me. A big part of my early retirement 2 1/2 years ago was because of your advice and encouragement. You have worked very hard for this and deserve it.
Sweet -- congrats!!!
Wow, congrats guys! Love how your goals are fluid and flexible
This is amazing news! You two are an inspiration to the rest of us that it can be done! All of your hard work and perseverance has paid off! Congratulations to the both of you.
Congratulations and thank you for the inspiration and good vibes.
Just incredible. High five indeed! :) Looking forward to more adventures Mike & Lauren! Rock on!
AWESOME! Congrats you two. Been great following along.
Congrats guys....your hard work and sacrifice paid off
Felicidadez! I'm so proud and happy for you and your family.
congrats guys! i'll see you at the finish line in a few years.
You say the warehouse could generate $100k p/yr.. that's speculation. And then you go on to say it's doing $3k a month.. that's the reality! If you worked in a bar, or a supermarket you could make more than that. How much is your rent at home?
Wow awesome! Good for you guys!! Love hearing stories like this! Hopefully I will have the same story to tell soon!!
Congrats! Was waiting patiently for an update.
Congratulations you guys! This is so inspirational!
Congrats you 2! That is so awesome! Amazing story and journey.
Wow Congratulations! I remember watching your videos 3 years ago (when I was 17) and after shit hit the fan w life, I'm highly contemplating dropping out of college changing my goals aim to be financially independent by 26/27. Still got a lot to flesh out but this is inspiring! Thank you
Running through some old comments on this video, and was wondering how this worked out for you? I also started watching Mike and Lauren around 17 years old. Now, I'm 25, married, and we're working towards our FIRE goal. Projection says 29-30 should be our first million in net worth, and 34-35 should be financially independent. Hoping your journey has been just as productive!
Congratulations Lauren and Mike! Fantastic inspiration.
Congratulations! I am excited for you. I was wondering how you were doing after getting the warehouse, and I am glad it turned out well for you.
Congrats guys , you did it just before 31?... that is really great ..
Congratulations you guys, have an awesome week, Andreas from Off Grid Sweden 🇸🇪
Very nice! Hope u guys keep the updates still comming. Showing us the issues wen u are on "retirement" that happen and what kind off potholes u find down the road! :3
Whoot! Congratulations guys! Been following you two for awhile. FI before 31! Wife and I are working on getting there too.
I was literally just talking about you guys today. I had shown my uncle your initial warehouse video on what great idea it was. Congrats on your accomplishment. I know you guys sacrificed a lot along the way. Good luck in your future endeavors.
Well congrats on that milestone! That's huge!
Well done guys, what a fabulous position to be in... But you worked for it, not handed to you by well off parents etc.. That deserves real praise.
Well done! Looking forward to more videos on how you pulled it off.
Dunno how I got here but glad I did, well bloody done!
Inspiring! Well done! Enjoy the fruits of your labor!
Congrats you two! Looking forward to that video.
Congratulations!!! Very Well Done.
HOLY CANNOLI!!! Congratulations you two!!! 🎊🎈🎉🍾 that is so incredible and I’m totally looking forward to seeing your future play out. Love you guys💚☘️
Oh my gosh! Thanks for sharing!!!! Good job I’m so excited for you guys!!!! 😁
Very inspiring! Congratulations for reaching your FI goals!
Happy so much for u guys!!!! Best wishes from a Brazilian Friend and Follower!!!!!!
Wow. Looking forward to learning about that warehouse project. Sounds like a great opportunity. Congratulations and thanks for sharing! New sub!
Congrats guys!! 🎉🎊🎈🍾
awesome! So well done! Congratulations, guys!
Been missing your videos. Great to see you back! Can't wait till the full explanation. What are you gonna do now that you're "retired" I imagine you'll keep working hard.
I haven't watched you guys in a really long time, not since you went out of the country to have the baby and get the baby dual citizenship. I am really glad to randomly stumble upon your video and find that you guys have reached and really surpassed your goal. Congratulations! I'm very excited for you both.
Wow! Congratulations guys!!!
Congrats. Didn't thought of that possibility for myself
So proud of you guys........you are an inspiration to others who are yet to begin their financial journey....(me included..)....waiting for more videos.....don't stop....
Congrats guys, rock on!
Amazing work! Congrats!!
She looks so happy. I'm happy for y'all
I'm so happy for you guys!!! This channel has inspired me to take control of my financial Independence.. I can't wait to see your travel and DIY videos
Woohoo 🙌! So happy for y’all
Nice work you two. Great to see a awesome couple have if figured out
You guys are an inspiration. My wife and I are starting down a similar road, realizing that we need to make our moves while our income is good. I've thought about your videos a lot as we've been working on that process. We sold our too-big home of 11 years and moved into a smaller, cheaper, trouble-free apartment three days ago. We're socking away about a third of our income and I've started looking at commercial real estate.
Yay! I’m so happy for you all!!
Incredible! Well done. Would love some videos on what you think about warehouses as an investment potential for other people. The pros/cons of it vs. passive index investing. The pros/cons of it vs. residential rental properties. Pitfalls to watch out for. Lessons learned. Etc. :)
Congrats guys! Hope to see more videos of the travels :)
Congrats to you both!🎉 So inspiring!
Congratulations to you both!
Congratulations. It's been great watching your FI journey :)
Very inspirational !! Congrats Guys !!
Y'alls make me want to step up my grind! Congrats!
Always enjoy your videos so much no matter the subject.
I love it how the haters on the comments are so critical of others that are able to actually achieve something. I commend you guys on your achievement.
Great job guys! Thanks for the inspiration!
Great video you guys made a smart decision and it's paying off.
Congrats guys. This is good inspiration for the rest of us! :)
Awesome!! I bought my first multi-unit rental and it brings in $2000 net. Goal is to 1031 exchange into a bigger property that pulls more cash